Current affairs, 4 September 2026: NPCI's UPI privacy rules take effect — mobile and account numbers must be masked — and EPFO opens the Vishwas 2026 settlement scheme

4 September 2026 is a banking-awareness day built around one deadline and one scheme: a UPI privacy rule takes effect, and the EPFO opens a one-time settlement window. Both are frequently tested.

NPCI’s UPI masking rule takes effect

From today, 4 September 2026, the National Payments Corporation of India (NPCI) — which runs UPI — requires all UPI member banks and UPI apps to mask UPI IDs, mobile numbers and account numbers across every customer-facing screen and communication, showing only the last four digits. Apps must also let users create a non-mobile-number-based UPI ID and set it as the default. The rule comes from NPCI Operational Circular OC-234/2026-27, “Safeguarding User Information in UPI”, dated 5 June 2026, and cites the Digital Personal Data Protection (DPDP) Act as its legal basis. Moneycontrol · News4Bharat

EPFO’s Vishwas 2026 settlement scheme

The Employees’ Provident Fund Organisation (EPFO) opened Vishwas 2026, a one-time settlement scheme that lets establishments settle disputes over damages for delayed EPF contributions at lower rates. Under the scheme, damages are 0.25% per month for delays of up to two months, 0.50% for delays over two and up to four months, and 1% beyond four months. The window is open until 28 December 2026 (EPFO says the deadline will not be extended), with dedicated Vishwas Cells and helpdesks at its 153 Regional Offices. CNBC TV18

Why it matters for an exam: the UPI rule connects three favourites — NPCI, UPI and the DPDP Act — while EPFO is a standard general-awareness institution (it administers the EPF, the retirement-savings scheme for organised-sector workers, under the Labour Ministry).

What to write in your notebook

Three lines:

1. UPI privacy: from 4 September 2026, NPCI requires masking of UPI IDs, mobile and account numbers to the last four digits; non-mobile-number UPI ID as default; legal basis — DPDP Act.
2. EPFO Vishwas 2026: one-time settlement for delayed PF dues at lower damages; open until 28 December 2026; helpdesks at 153 Regional Offices.
3. Institutions: NPCI runs UPI; EPFO administers the EPF.